Solvency 2 Directive definition

Solvency 2 Directive means Directive2009/138/EC of the European Parliament and the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II);
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Solvency 2 Directive means Directive 2009/138/EC of 25 November 2009 on the taking-up and pursuit of business of Insurance and Re-insurance (Solvency II) and which must be transposed by member states of theEuropean Economic Area by 31 October 2012.
Sample 1
Solvency 2 Directive means Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II), as it has effect immediately before [F8IP completion day];
Sample 1

Examples of Solvency 2 Directive in a sentence

  • Insurance undertakings with less than €5 million yearly premium income or insurance obligations (liabilities) of less than €25m are excluded from the scope of the Solvency 2 Directive, and therefore from this SI.

  • These regulations amend UK legislation implementing the EU’s Solvency 2 Directive and relevant directly applicable EU legislation, which introduced a harmonised prudential framework for insurance and reinsurance firms, so that it continues to operate effectively when the UK leaves the EU.

  • Regulation 22 omits paragraphs (25) and (39) from regulation 11 of the Solvency 2 and Insurance (Amendment etc.) (EU Exit) Regulations 2019, because they made amendments to the Commission Delegated Regulation (EU) No 2015/35 of 10 October 2014 supplementing the Solvency 2 Directive, which will no longer be effective on exit day by reason of amendments made by Regulation (EU) 2017/2402 (the Securitisation Regulation), which came into force on 1 January 2019.

  • An impact assessment was produced for the Solvency 2 Regulations 201512, which implemented the Solvency 2 Directive.

  • This impact assessment concluded that all micro- businesses (those with fewer than 10 employees) would be out of scope of the Directive and that, according to estimates provided by the then-Financial Services Authority, approximately 100 small insurance firms would fall outside the scope of the Solvency 2 Directive.

  • However, several accounting and regulatory changes (including anticipation of the Solvency 2 Directive) have deterred life insurance from the equity market.

  • We note that whether a right is waivable does not necessarily depend on the importance of that right, as even fundamental constitutional rights can be waived by the person possessing those rights.

  • Solvency 2 Directive (2009/138/EC) states that supervision shall be based on a prospective and risk based approach and that it shall include the verification on a continuous basis of the proper operation of the insurance or reinsurance business and of the compliance with supervisory provisions by insurance and reinsurance undertakings.

  • Regulation 11(3) of this instrument incorporates several definitions from the Solvency 2 Directive (Directive 2009/138/EC) to ensure that the Solvency 2 Delegated Regulation (Regulation (EU) 2015/35) will operate effectively in UK law after exit.

  • During the detailed design process, the Phu Ly City PC will engage a consultant firm to conduct replacement cost study to identify the unit rates at replacement cost for all categories of loss; The results of replacement cost survey will be submitted to Ha Nam PPC for appraisal and approval as the basis for calculating compensation plans.

Related to Solvency 2 Directive

  • Solvency II Directive means Directive 2009/138/EC of the European Parliament and of the Council of the European Union of 25 November 2009 on the taking-up and pursuit of the business of insurance and reinsurance (Solvency II);

  • Advance directive means a document that contains a health care instruction or a power of attorney for health care.

  • Council Directive means Council Directive 89/552/EEC of 3 October 1989 on the co-ordination of certain provisions laid down by law, regulation or administrative action in Member States concerning the pursuit of television broadcasting activities as amended by Directive 97/36/EC of the European Parliament and of the Council of 30 June 1997 and by Directive 2007/65/EC of the European Parliament and of the Council of 11 December 2007. A simplified and codified version of these Directives was introduced in 2010: the Audiovisual Media Services Directive 2010/13/EU.

  • Waste Framework Directive or “WFD” means Waste Framework Directive 2008/98/EC of the European Parliament and of the Council on waste

  • CRD IV Directive means Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms of the European Parliament and of the Council of 26 June 2013, as the same may be amended or replaced from time to time.

  • UCITS Directive means Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities, as amended;

  • CRD Directive means Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (as amended from time to time, including by Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019);

  • Change Directive means a written order signed by the procurement officer that

  • Financial Support Direction means a financial support direction issued by the Pensions Regulator under section 43 of the Pensions Xxx 0000.

  • Final administrative decision means a decision by an agency

  • Agency Chief Contracting Officer or “ACCO” shall mean the position delegated authority by the Agency Head to organize and supervise the procurement activity of subordinate Agency staff in conjunction with the City Chief Procurement Officer.

  • Advance health care directive means a power of attorney for health care or a record signed by a prospective donor containing the prospective donor's direction concerning a health care decision for the prospective donor.

  • Medical Child Support Order means any judgment, decree or order (including approval of a domestic relations settlement agreement) issued by a court of competent jurisdiction that:

  • Review Officer means the officer of the Adviser designated from time to time by the Adviser to receive and review reports of purchases and sales by Access Persons. The term “Alternative Review Officer” means the officer of the Adviser designated from time to time by the Adviser to receive and review reports of purchases and sales by the Review Officer, and who shall act in all respects in the manner prescribed herein for the Review Officer. It is recognized that a different Review Officer and Alternative Review Officer may be designated with respect to each Adviser.

  • Public Finance Management Act ’ means the Public Finance Management Act, 1999 (Act No. 1 of 1999);

  • TO Procurement Officer meansTO Procurement Officer. The Agency may change the TO Procurement Officer at any time by written notice to the TO Contractor.

  • Construction Change Directive means a written order prepared by Owner Parties and signed by Owner directing Contractor to perform a change in the Work prior to agreeing to a change, if any, to the Contract Time, schedule of performance of the Work, Contract Sum, or Contractor’s compensation.

  • Solvency II means the Solvency II Directive and any additional measures adopted to give effect to the Solvency II Directive (for the avoidance of doubt, whether implemented by way of a regulation (including, without limitation, the Level 2 Regulations), a directive, application of relevant EIOPA guidelines or otherwise);

  • Solvency II Regulation means Commission Delegated Regulation ((EU No. 2015/35).

  • Industrial Emissions Directive means DIRECTIVE 2010/75/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 24 November 2010 on industrial emissions

  • Monitoring Officer means the officer designated under Section 5(1) of the 1989 Act.

  • Procurement Officer means the Buyer's contracting personnel, as identified in the Introductory Materials.

  • Radiation safety officer means an individual who has the knowledge and responsibility to apply appropriate radiation protection regulations and has been assigned such responsibility by the licensee or registrant.

  • LOCKHEED XXXXXX Procurement Representative means a person authorized by LOCKHEED XXXXXX'x cognizant procurement organization to administer and/or execute this Contract.

  • Relevant Supervisory Consent means, in relation to any redemption or purchase of the Notes, any required permission of the Relevant Regulator applicable to the Company or the Relevant UK Resolution Authority (as applicable). For the avoidance of doubt, Relevant Supervisory Consent will not be required if either (i) none of the Debt Securities qualify as part of the Issuer’s regulatory capital, or own funds and eligible liabilities or loss absorbing capacity instruments, as the case may be, each pursuant to the Loss Absorption Regulations, (ii) the relevant Debt Securities are repurchased for market-making purposes in accordance with any permission given by the Relevant Regulator pursuant to the Loss Absorption Regulations within the limits prescribed in such permission or (iii) the relevant Debt Securities are being redeemed or repurchased pursuant to any general prior permission granted by the Relevant Regulator or the Relevant UK Resolution Authority (as applicable) pursuant to the Loss Absorption Regulations within the limits prescribed in such permission.

  • Medical direction means direction, advice, or orders provided by a medical director, supervising physician, or physician designee (in accordance with written parameters and protocols) to emergency medical care personnel.